13 Nobel economists promised Biden would cut inflation. Now they're saying Trump will ignite it
Soaring prices change minds
(ISSUES & INSIGHTS) – A gang of 16 Nobel prize-winning economists signed a letter yesterday endorsing Joe Biden for president because: “There is rightly a worry that Donald Trump will reignite inflation with his fiscally irresponsible budgets.”
But then our colleague, Scott Bessent, noticed something strange and ironic about the signatories: 13 of these economists signed a highly-publicized open letter three years ago assuring Americans that Biden’s “Build Back Better” spending spree would “ease longer-term inflationary pressures.”
Then – whoops! – 18 months later inflation soared to 9.1% under Biden – the worst U.S. inflation in almost 40 years! This would be the medical equivalent of amputating the wrong leg.